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On agenda:
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3/7/2023
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Final action:
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Title:
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Approve and authorize the Director of Aviation to sign the Concession Lease Agreements between Clark County and The Day One Group, LLC. (Brian Ayala, Chief Operating Officer), MRG Las Vegas, LLC (David Charles, President/COO), Chalo LLC (Danialle An-Shukla, Head of Concept & Marketing/Owner), and Genesco Partners Joint Venture #13 (Matthew N. Johnson, Vice-President & Treasurer) (Companies) for the operation of specialty retail concessions at Harry Reid International Airport; or take other action as appropriate. (For possible action)
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CLARK COUNTY BOARD OF COMMISSIONERS
AGENDA ITEM
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Petitioner: |
Rosemary A. Vassiliadis, Director of Aviation |
Recommendation:
title
Approve and authorize the Director of Aviation to sign the Concession Lease Agreements between Clark County and The Day One Group, LLC. (Brian Ayala, Chief Operating Officer), MRG Las Vegas, LLC (David Charles, President/COO), Chalo LLC (Danialle An-Shukla, Head of Concept & Marketing/Owner), and Genesco Partners Joint Venture #13 (Matthew N. Johnson, Vice-President & Treasurer) (Companies) for the operation of specialty retail concessions at Harry Reid International Airport; or take other action as appropriate. (For possible action)
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FISCAL IMPACT:
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Fund #: |
5201.701 |
Fund Name: |
LAS Unrestricted Operations |
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Fund Center: |
2200400050 |
Funded PGM/Grant: |
N/A |
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Amount: |
County will receive monthly rent equal to 15% -30% of Gross Revenue, or a Minimum Annual Guarantee (MAG) whichever is greater. |
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Description: |
Concession Lease Agreements |
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Additional Comments: |
N/A |
BACKGROUND:
The Clark County Department of Aviation negotiated Concession Lease Agreements (Agreements) with Companies, whose proposals were selected in response to Request for Proposal 132-22, Airport Specialty Retail. The pertinent provisions on all Agreements are as follows:
• Term shall be for 7 years with an automatic renewal of the Agreements for 1 additional 3-year period.
• Companies will pay monthly rent to County equal to 15%-30% of Gross Revenue for the first year of
operations, after which, Companies will pay the greater of 15%-30% of Gross Revenue or a MAG.
The Companies, Concepts, and specific percentage rent will be as follows:
The Day One Group, Four Agreements:
• The BLVD. (Terminal 1, Esplanade) - 30% of Gross Revenue
• Garrett Popcorn Shops (Two Locations: Terminal 1, Esplanade and D-Gates) - 17% of Gross Revenue
• Vera Bradley (D-Gates) - 17% of Gross Revenue
• Karma & Luck (D-Gates) - 17% of Gross Revenue
The Marshall Retail Group, LLC, One Agreement:
• DT Arts Market & Marshall Rousso (Terminal 1, Esplanade) - 15% of Gross Revenue
• Este & Jayn (D-Gates) - 15% of Gross Revenue
• In Motion & Welcome to LV (D-Gates) - 15% of Gross Revenue
Chalo LLC, One Agreement
• Chalo & Co. (Terminal 1, Esplanade) - 15% of Gross Revenue
Genesco Partners Joint Venture #13, One Agreement
• Johnston & Murphy (D-Gates) - 15% of Gross Revenue
The Agreements have been approved as to form by the District Attorney's Office. Advertising, in accordance with NRS 496.090, has been completed. Companies will obtain Clark County Business Licenses prior to commencing operations.
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